Bitcoin may be at its peak of happiness at $120,000, but Henrik Zeberg is not convinced by the rally. In a candid new post, macro analysts warned that Bitcoin is likely to “collapse” once the much-anticipated recession finally arrives.
In his view, as Antony Pipriano suggested in the same thread, the trigger is not the end of the money print, but rather is more deeply rooted in the real economy.
That’s where things get uncomfortable. Bitcoin’s current Bull Run thrives with stories surrounding ETF adoption, financial expansion and digital rarity.
However, if Zeberg is correct, the assets could be on a much weaker foot than the market expects. He didn’t provide a price target, but Zeberg responded aggressively when another user predicted an 80% revision for all cryptocurrencies by 2026.
Bitcoin becomes a crater when the recession hits https://t.co/zotgwcmr2j
-August 5, 2025, Henrik Zeberg (@henrikzeberg)
Looking back at the charts, there is the historical weight behind the concerns. After reaching nearly $69,000 in the second half of 2021, Bitcoin has dropped to a level of $16,000. This is a drawdown of over 75%.
A similar trajectory from the current high can reach mid-$20,000 by the time the next macrocycle bottoms out. This is not because of technology failure, but because of liquidity.
What’s it now?
For now, this trend still favors bulls, and the chart remains technically unharmed. However, climbing begins to flatten and candles are narrowing, showing he just as global macro risks begin to resurface.
If this gathering is indeed fluidity-driven, reversals can be painful. Zeberg’s perspective challenges the current mood, and this is exactly why it should not be overlooked.
